Question

why do neighbourhood shops provide goods on credit?

Answer 1

Because they are member-owned, credit unions are known for hands-on service, competitive products, and a focus on financial literacy. When people in the Dallas-Fort Worth area have financial concerns, they can turn to Neighborhood Credit Union. Through its resources and proactive community outreach, Neighborhood CU helps its community improve its financial literacy and stability. It supplements its own efforts by offering members access to GreenPath Financial Wellness resources and tools. Going beyond education, Neighborhood CU also offers a variety of products — like Fresh Start Checking Accounts and Savings Builder Loans — to help members achieve financial success. For these efforts, we’re recognizing Neighborhood Credit Union with our Editor’s Choice™ Award for promoting smart financial practices.

In 2014, a Dallas police officer was in dire financial straits. He was retiring after 20 years on the force and coming out of bankruptcy.

He and his wife’s credit scores were in the mid-500s, and they had no savings to rely on. They needed to repair their credit and establish a nest egg — and so they turned to Neighborhood Credit Union.

The couple started with a Savings Builder Loan, which led to a second, and then multiple car loans, a credit card, and a personal loan. In less than four years, the couple’s credit score rose to over 700, and they’ve now owned two homes and successfully built their savings. All of this is thanks in no small part to the guidance and products available through Neighborhood CU.

The oldest credit union in Dallas, Neighborhood CU began as the Dallas Post Credit Union, which opened in 1930 — mere months after the stock market crash. The institution and its members survived the Great Depression, and, more than 70 years later, became community chartered in 2001. Neighborhood CU now operates 12 branches serving 49,000 members living, working, or worshipping in Dallas, Denton, and Ellis Counties, as well as the City of Arlington.

Hope you understand

Answer 2

Advantages of Neighborhood Shops

Explanation:

The main advantages of neighborhood shops is the flexibility of payments.

Since the buyers and sellers know each other , the shops gives credits also.